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Stocks fall after disappointing unemployment data — Jim Cramer and others on what they're watching now

Stocks are down after disappointing unemployment data—Three experts on what they're watching now

Stocks were lower after disappointing jobless claims data Thursday. Microsoft shares were also a drag despite the company beating earnings estimates.

Three market experts discuss what they're watching.

Mike Wilson, chief investment officer at Morgan Stanley, is growing more optimistic.

"I think people are too cautious on the economic and earnings recovery. Just go back to the original question at the beginning of this — the quality of the earnings. I think the story for the next 12 months is we're going to be surprised at the earnings power of the average company into next year because of the cost cutting that's going on and how fast things snap back."

Jim Cramer, host of CNBC's "Mad Money," says investors are holding tightly onto their positions.

"There's a lot of people who are being hogs, pigs, they should sell some [positions]. We had to sell some Amazon from my charitable trust because we were the Amazon fund, we had to sell some Facebook because we were the Facebook fund. We refuse to sell Apple because you have to own Apple, not trade it. But I think a lot of us are stuck thinking about, 'What else am I supposed to buy?'"

Tiffany McGhee, head of Momentum Advisors, sees opportunity in the e-retail space.

"We love e-commerce, and it's not just an Amazon play. E-commerce in Q1 has been up over 40%, and in addition to names like Walmart and Target, some of these specialty platforms have seen a surge as well, so we really like Farfetch. Farfetch is a luxury platform. It's an e-commerce platform for luxury goods, and we really think it's uniquely positioned to help luxury retailers be able to sell online in a really cool way. The stock is up year to date 114% and for the past three months over 77%. So we really like it."